The company's cost of good sold is $350,000. The cost of good sold is a cost which directly attributed to the inventory sold by a company. Gross profit is a portion of income which created by the selling of inventory ignoring other expense besides the cost of good sold. From the company's data, we can find the cost of good sold by finding the difference between net sales and gross profit, therefore the formula we have to use is "Cost of good sold = Net sales - gross profit".
Answer:
Dr. Depreciation Expense Account $8,200
Cr. Accumulated Depreciation $8,200
Explanation:
Depreciation is the expense that is charged from the fixed assets to the revenue. All the depreciation of the fixed asset are accumulated in a account of accumulated depreciation, which is contra asset account. the assets are reported on the balance sheet net of accumulated depreciation.
Answer: c. Social learning theory
Explanation:
KPMG in 2005 were almost indicted for their role in convincing wealthy clients to deceive the US government into believing that they had suffered losses which helped them evade taxes through tax shelters.
The marketing of these tax shelters at KPMG spread fast due to the Social learning theory where people engage in behaviour that they observed others doing.
Employees at KPMG were encouraged to be team players and so when they saw their fellow workers marketing these products to the wealthy, they too wanted to market it.
